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Agenda
Minutes

Open Session

Item 1 – Call to Order – No Materials

Item 2 – Public Comment – No Materials

Open Session – Consent Matters

Item 3 – Minutes of the April 21, 2021 Regular Meeting​​

Item 4A – Rivera, Evelyn. Staff recommendation dated May 19, 2021 (confidential)

Item 4B – Reference: General Law and Authorized Board Actions on Disability Retirement Proposed Decisions

Item 5 – Ratification of Service Retirement Application Approvals – April 2021

Item 6 – State Association of County Retirement Systems Legislative Update – May 2021

Item 7​ – Proxy Voting Activity Report – First Quarter 2021

Item 8 – Portfolio Allocation and Rebalancing Report – First Quarter 2021

Item 9 – Monthly Investment Manager Activity, Compliance, and Watch List Report – April 2021

Item 10 – Monthly Report of New Investment Activity – April 2021

Executive Reports

Item 11 – Chief Executive Officer’s Report – No Materials

Item 12 – Chief Investment Officer’s Report – No Materials

Administrative Matters

Item 13 – Investment Legal Services
Staff to recommend Board renew contract with Foley and Lardner for investment legal services for a three-year term not to exceed $700,000 and authorize the Chief Executive Officer to execute any necessary documents. Deliberation and action.

Item 14 – Tax Counsel Services
Staff to recommend Board renew contract with Hanson Bridgett LLP for tax counsel services for a two-year term not to exceed $125,000 and authorize the Chief Executive Officer to execute any necessary documents. Deliberation and action.

Benefit Matters

Item 15 – Appeal of SCERS’ Administrative Decisions Policy
Staff to recommend Board re-affirm Appeal of SCERS’ Administrative Decisions Policy with no substantive changes. Deliberation and action.

Investment Matters

Item 16 – Board and Staff Trading Policy
Staff to recommend Board re-affirm the Board and Staff Trading Policy with minor updates to terminology. Deliberation and action.

Item 17 – Transaction Cost Analysis Policy
Staff to recommend Board approve the Transaction Cost Analysis Policy, which has been updated and replaces the Directed Brokerage Transactions and Commission Recapture Policy. Deliberation and action.

Item 18 – Placement Agent Policy
Staff to recommend Board reaffirm the Placement Agent Policy with minor updates to eliminate redundancy and clarify terminology. Deliberation and action.

Item 19 – Quarterly Investment Performance Report – First Quarter 2021
Verus Advisory, Inc. to present the performance report for the quarter ended March 31, 2021. Receive and file.